Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Solution to Appropriation Account Example
- This is a solution to a question that is found here
- You can also find the introduction to appropriation accounts here
Solution
Gandanga, Waeni and Banda
Appropriation Account for the Year ended 31 December 20×8
$ | $ | $ | |
Net Profit transferred from the Profit and Loss Account | 84 800 | ||
Less: | |||
Salaries: | |||
Waeni | 32 000 | ||
Banda | 24 000 | ||
46 000 | |||
Interest on capitals: | |||
Gandanga | 2 500 | ||
Waeni | 2 000 | ||
Banda | 1 500 | ||
6 000 | |||
(52 000) | |||
32 800 |
|||
Balances of profits shared: | |||
Gandanga | 12 300 | ||
Waeni | 12 300 | ||
Banda | 8 200 | ||
32 800 |
To access more topics go to the Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes.